Economics for Product Managers - It's not just for professors and bankers
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Economics for Product Managers - It's not just for professors and bankers

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The role of business strategy is to drive the highest economic value out of your company’s resources. From your product strategy to the outbound marketing plan, economics should drive your strategic ...

The role of business strategy is to drive the highest economic value out of your company’s resources. From your product strategy to the outbound marketing plan, economics should drive your strategic decisions. This presentation explains how simple economics models can help rationalize your complex product management decisions.

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Economics for Product Managers - It's not just for professors and bankers Economics for Product Managers - It's not just for professors and bankers Presentation Transcript

  • Economics for Product Managers: It’s Not Just for Professors and Bankers
    Mike Boudreaux
    Product Manager
    Emerson Process Management
  • “The question isn't what are we going to do. The question is what aren't we going to do." – Ferris Bueller
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    http://www.flickr.com/photos/livenature/4034863015/
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    http://en.wikipedia.org/wiki/Microeconomics
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    http://en.wikipedia.org/wiki/Home_economics
  • http://www.flickr.com/photos/trackrecord/54515014
  • 7
    http://www.flickr.com/photos/francesco_veronesi/3566479837
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    “A strategy is a plan of action designed to achieve a particular goal.” – Wikipedia
    http://www.flickr.com/photos/ollesvensson/4252196844
  • 9
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    “Strategy is making trade-offs in competing. The essence of strategy is choosing what not to do." – Michael Porter
    http://en.wikipedia.org/wiki/File:Southwest_Airlines_Cabin.jpg
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    http://www.flickr.com/photos/robie06/4394748067
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    http://www.flickr.com/photos/fotoosvanrobin/2545857883
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    Quality
    Size
    Time
    Cost
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    Secure
    Usable
    Cheap
  • 15
    Flexibility
    User Experience
    Ease of Use
    Number of Features
  • http://www.flickr.com/photos/pauldcocker/3003668632
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    http://www.flickr.com/photos/ableman/534155207
  • “It would appear, Hopkins, that your gut feel was only indigestion.”
    Source: Product Manager’s Desk Reference, Artist Timo Elliot
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    http://www.flickr.com/photos/acaben/541334636/
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    http://www.flickr.com/photos/adstream/1495683304
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    High value enhancement
    Breakthrough
    product
    Keep the
    lights on
    Waste of
    effort
  • 25
    Benefit (B)
    Value
    (B – C)
    Price
    (P)
    Cost(C)
  • 26
    Benefit (B)
    Price
    (P)
    Cost(C)
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    60%
    20%
    0%
    20%
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  • Buyer
    Type
    Application
    Industry
    39
  • Buyer
    Type
    Application
    Industry
    40
  • Buyer
    Type
    Application
    Industry
    41
  • Buyer
    Type
    Application
    Industry
    42
  • Buyer
    Type
    Application
    Industry
    43
  • http://www.npd-solutions.com/serverppm.html
  • 45
    Used with permission from http://www.pragmaticmarketing.com/
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    http://www.flickr.com/photos/uggboy/4593866108
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    http://en.wikipedia.org/wiki/Ideal_firm_size
  • 50
    Used with permission from http://www.pragmaticmarketing.com/